I've seen many 700 rwhp+ LS engines with the stock aluminum or iron blocks. The LSX block is a great platform, but not required. Where it comes into play is if you'll be running high boost, like 20 psi+. If it takes that much boost with your combo to make 700 rwhp, change your combo............
Easy to make big power with a forced induction LS engine. The TT 402 in my last car made well over that with a 4L80E and 9", and the boost level was at 14 psi. At that boost level you do not need the extra head bolts. Never got a full pull due to it shutting the dyno down around 4800 rpm due to excessive torque, but I'm confident in saying it was over 700 rwhp.